DIGITAL GOLD’s features and solutions – Nguyen Thi Mong Mo

The GOLD token boasts several impressive features that aim to facilitate the usage of blockchain for digitizing assets. By purchasing gold via the token, customers get access to:

• SAFE HEAVEN: Gold is an asset that has proven its value over thousands of years. Its unprecedented long term purchasing power stability has made it the safe heaven asset of choice. GOLD as a token fully backed by physical gold, is your hedge against volatile price swings and poor cypto market conditions. The token can be instantly bought, sold and transferred making it a great addition to your portfolio.
• NO TRANSFER FEES, LOW COSTS: Make payments in GOLD with absolutely no transaction fees. This means that you can make as much payments as you like whenever you need to, free of charge. GOLD can even be used for daily financial routine such as payments to your friends and business transactions. Service costs are comparable or lower to storing gold at a depository or bank, with no hassle or paperwork. The cost is a small percent of GOLD holding charged daily on your GOLD balance. A low-cost token that entails no transfer fees thanks to its Ethereum ERC-20 support, customers can choose to send the token anywhere in the world, without having to worry about volatile transfer fees, since all transfers are free. Users are also permitted to make unlimited payments, as the service does not impose account limits. Users should note that transfers still entail the ‘gas’ tax charged by the Ethereum network. To make the project sustainable, a service cost has been implemented. As such, GOLD token users can expect to have a small percentage of their holdings charged on a daily basis. It is important to consider that the service cost is designed to be either comparable, or lower than the fees associated with storing gold at a depository or bank. Users can expect to pay a 0.99% annual storage fee.
• SECURE: 100% of GOLD is backed by physical gold. Amount of physical gold stored can be matched against the total number of tokens in real-time. All physical gold stored in vault is fully insured, 100% of the time. The insurance covers all risks at full replacement value and is provided by one of the world’s largest insurance specie underwriters, Chubb Insurance. Storing physical gold on your own has a number of inherent dangers/problems that can be avoided by using GOLD. Such dangers include home burglary and security risk going to and from the bank, if you choose to store gold at home or limited access if you choose to keep your gold at a bank. The challenges related to purchasing and storing gold have been briefly outlined above. The process generally involves quite a bit of hassle. To purchase gold, those who are interested need to find a reliable supplier, handle paperwork, and then proceed to secure the newly-purchased precious metal. Hosting it in a bank is a safe choice, yet it involves even more paperwork, alongside storage fees. The inherent dangers associated with storing gold at home are well-known, since to this day, burglary remains a problem that society has to protect against. These challenges can be disregarded with Digital Gold. With the GOLD token, customers purchase coverage in actual gold, stored by the company in secure vaults. All physical gold is insured, therefore the risks are minimal. All risks are covered at full replacement value. The insurance contract is currently provided by one of the world’s largest insurance underwriters, the Chubb Insurance Company. The insured gold is stored in Singapore, which is a perfectly-viable location thanks to its strong property rights. It is also relevant to mention that blockchain technology provides security against cyber risks as well. So far, blockchain remains impenetrable, granted that no public blockchain ledger has been hacked to this day. Security on the user-side can be ensured as long as token users protect themselves against key-loggers and other forms of computer malware. However, no third party can gain access to a user account without discovering the wallet identifier and the associated private key. Additionally, blockchain immutability ensures that all transactions are permanent, thus token users face no chargeback risk. Lastly, 100% of purchased tokens are covered by physical gold. With this in mind, the total amount of GOLD tokens put into circulation can be confirmed via any Ethereum block explorer. The amount is equal to the value of physical gold that is purchased on the behalf of consumers, and stored in a BullionStarbased secure vault. Users are free to carry out their due diligence by verifying the BullionStar live audit reports. As such, a third party audit report is issued on a quarterly basis, thus confirming the value of gold being stored.
• HIGH LIQUIDITY: Token issuer company, DIGITAL GOLD LTD, is a liquidity supplier enabling purchase and sale of large amounts of tokens very close to market price. Token holder can instantly purchase or sell tokens at this website or partner exchanges. While using GOLD, you are not bound to local business hours that may prevent you from accessing and selling physical gold at a favorable price or if an urgent personal need arises. There is no need to physically take gold to a dealer to be sold. GOLD token’s liquidity is exceptional, because the tokens can be sold 24/7. The GOLD token ensures high liquidity, since the token issuer company, DIGITAL GOLD LTD, also works as a liquidity supplier. Users are permitted to instantly purchase and sell large amounts of tokens, via the Digital Gold Marketplace, or partner exchanges. Another benefit worth pointing out is that with Digital Gold, customers do not have to consider local business hours, since the service is available 24/7. Liquidity is therefore available on demand, and the rates always closely match current gold market prices.
• PRIVACY-CONSCIOUS: It is a common knowledge that physical gold dealing requires disclosure of personal information and compliance with local regulations that vary widely from country to country. In the age of NSA, and almost everyone urge to collect data, GOLD is your opportunity to own physical gold while remaining private.
• LIFE EXPECTANCY: The Lindy effect is a concept that the future life expectancy of asset or technology is proportional to their current age, so that the longer the asset exists the longed future life expectancy. Applicable to gold, that has officially lost its role as money, but has thousands of years behind it ensuring its value for centuries, if not thousands of years to come. Most financial analysts agree that the life expectancy of gold vastly outweighs our own. This conclusion is backed by the Lindy Effect, a concept that describes how the future life expectancy of an asset is directly proportional to its current age. Gold’s prevalence for thousands of years guarantees that the precious metal will remain relevant for many years to come.